Moderna (NASDAQ:MRNA) stock is on the move Wednesday alongside positive results from its latest mRNA-1345 vaccine trial.
That trial covers the use of mRNA-1345 as a vaccine for the respiratory syncytial virus (RSV). The results from the Phase 3 clinical trial showed the vaccine was 83.7% effective “against RSV lower respiratory tract disease.”
Moderna notes that the study is still ongoing as it waits for more patients with RSV. That will provide the company with additional data, such as how well the vaccine works against severe RSV. The focus group of the study is adults aged 60 years or older.
To go along with the positive efficiency news, Moderna says that its vaccine didn’t run into any safety issues. With this data in hand, the company intends to submit the vaccine for regulatory approval in the first half of 2023.
What This Means for MRNA Stock
With the positive data from this clinical trial, Moderna is hoping for regulatory approval. That would give the biotechnology company another messenger RNA (mRNA) vaccine to sell, which could bring further profits.
Moderna could see recurring funds from the vaccine as it tweaks it to handle seasonal cases of RSV. In the United States, there are between 60,000 and 120,000 cases of RSV in older adults every year. That expands to 5.2 million cases in high-income countries around the world.
MRNA stock is up 11% as of Wednesday morning.
Investors looking for all of the latest stock market news will want to keep reading!
We’ve got all of the latest stock news traders need to know about on Wednesday! That includes everything happening with shares of Bluebird Bio (NASDAQ:BLUE), Arcimoto (NASDAQ:FUV) and Radian (NYSE:RDN) stock today. You can learn more at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.